Sharecare SPAC Merger: 13 Things to Know About FCAC Stock and the Digital Wellness Company

Advertisement

Sharecare is reportedly on its way to the public market via a merger with special purpose acquisition company (SPAC) Falcon Capital Acquisition (NASDAQ:FCAC).

two businessmen shaking hands with peers at their side
Source: Shutterstock

Here’s what potential investors in FCAC stock need to know about the Sharecare SPAC merger news.

  • According to a recent report from Reuters, Sharecare and Falcon Capital Acquisition will merge to create a combined company worth almost $4 billion.
  • The report claims that before the merger goes through, Sharecare plans to acquire Doc.ai.
  • This is an artificial intelligence (AI) startup that operates in the healthcare sector.
  • Sources close to the matter are remaining private due to the confidential nature of the talks.
  • Sharecare is a digital wellness company founded in 2012.
  • Its founder is Jeff Arnold, who also founded the WebMD website.
  • The company employs more than 2,400 people and has partnerships with several major players in the healthcare field.
  • Falcon Capital Acquisition is a blank check company created to take another company public via merger.
  • The company joined the stock market in September with a $345 million initial public offering (IPO).
  • It has the backing of investment banker Alan Mnuchin.
  • Mnuchin is the brother of former U.S. Treasury Secretary Steve Mnuchin.
  • It’s unclear if a Sharecare SPAC merger deal will be announced.
  • However, sources say that so long as the deal doesn’t fall through, it could get an official announcement as early as this week.

FCAC stock was up 1.7% as of Wednesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/01/sharecare-spac-merger-13-things-to-know-about-fcac-stock-and-the-digital-wellness-company/.

©2024 InvestorPlace Media, LLC